Anti money laundering and financial crime test
Description:
A test for advisers, administration staff and business owners on the subject of anti-money laundering rules, financial crime, fraud and your obligations.
Document last updated October 2011
Abstract:
1 Why is money laundered?
A To disguise the profits of crime and represent them as being generated by legal means.
B To create an opportunity for banks to increase profits
C To improve and enhance money flows by bringing cash into the system
D To use the profits of crime to generate more income
2 If a suspicious transaction is detected, with whom must you discuss it with first?
A The police
B The FSA
C Your money laundering officer
D The serious fraud office
3 A client of 4 years requests a full copy of the file you hold on him. However, you submitted a suspicious activity report 2 years ago about him. What do you do?
A Alert the your MLRO and request permission to delete the SAR information from the file
B Delete the SAR information from the file immediately
C Give the client a full copy of the file
D Do nothing and hope he forgets his request
£30.00